Vestmark Advisory Solutions Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 47.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,972 shares of the industrial products company’s stock after selling 1,791 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Caterpillar were worth $249,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its stake in Caterpillar by 3,600.0% during the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC bought a new position in shares of Caterpillar in the second quarter worth about $27,000. Private Ocean LLC grew its holdings in shares of Caterpillar by 62.9% in the third quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. G&S Capital LLC bought a new position in shares of Caterpillar in the third quarter worth about $38,000. Finally, Kavar Capital Partners LLC bought a new position in shares of Caterpillar in the second quarter worth about $46,000. 66.87% of the stock is currently owned by institutional investors.
In other Caterpillar news, General Counsel Suzette M. Long sold 5,019 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $126.34, for a total transaction of $634,100.46. Following the completion of the transaction, the general counsel now directly owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gary Michael Marvel sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $139.38, for a total transaction of $303,848.40. Following the transaction, the chief accounting officer now directly owns 2,180 shares of the company’s stock, valued at $303,848.40. The disclosure for this sale can be found here. Insiders sold a total of 95,141 shares of company stock valued at $13,717,142 over the last ninety days. 0.37% of the stock is currently owned by insiders.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.82 by ($0.16). The company had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $13.49 billion. Caterpillar had a net margin of 10.99% and a return on equity of 42.51%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.86 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 10.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, October 18th. Caterpillar’s payout ratio is currently 36.72%.
A number of research analysts have recently commented on CAT shares. Cleveland Research restated a “hold” rating on shares of Caterpillar in a report on Monday, September 30th. UBS Group cut their price target on shares of Caterpillar to $110.00 and set a “sell” rating on the stock in a report on Thursday, October 24th. Credit Suisse Group restated a “buy” rating and issued a $150.00 price target on shares of Caterpillar in a report on Thursday, October 24th. ValuEngine upgraded shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Citigroup lowered their price target on shares of Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $138.76.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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